Trended lower in the last few days of trading, triggering concerns and speculations over the possible end of what has been a wild bull market for various dog and frog-themed tokens. What raised anxiety among the memecoin community was the movement of large chunk of holdings from whales to exchanges recently., a smart money investor deposited 200 billion SHIB tokens, equating to nearly $6.5 million, to Gemini and Crypto.com on the 12th of March.
Notably, the whale was an early buyer and had amassed 15.2 trillion SHIBs in August 2020. The smart investor was sitting on estimated profits of $129 million with 2.6 trillion still in their kitty. In the second instance, a whale transferred 500 billion Pepe tokens, worth over $4 million, to OKX exchange. If they decide to sell, they would make profit of $3.39 million. Typically, large movement of coins from whale wallets to exchanges signals an impending sell-off, and therefore big correction in prices. AMBCrypto investigated other key indicators of the aforementioned tokens to understand the market moo
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Source: CryptoAmb - 🏆 22. / 68 Read more »